DECATUR, Ga. — DeKalb County CEO Michael Thurmond said he wants to make sure long-time residents can continue to afford to live in the area as inflation continues to impact the housing market.
On Tuesday, Thurmond proposed to the Board of Commissioners a tax cut that is projected to save DeKalb County homeowners $1 billion over a six-year period.
“This is the cornerstone of our comprehensive strategy to approve affordability and to mitigate gentrification throughout the county," Thurmond said.
Thurmond said every cent and every resident matters which is why he says that he is proposing the one-cent sales tax.
“There will be a November referendum where voters can vote yay or nay on creating a $1 billion tax break for homeowners who qualify for homestead exemptions," explained Thurmond.
Voters approved a similar measure in 2017 but the CEO says inflation and the current housing market required an updated proposal.
"We want to use and leverage our resources to help the people that worked hard, played by the rules, who raised families and are now helping to raise grandchildren and great-grandchildren," he said. "We want to help them hold on to the American dream which (is) a major part of being a homeowner."
If approved by voters this fall, homeowners could see relief as soon as 2024.